Whether taxpayers are supporting natural disaster recovery, COVID-19 pandemic aid or another cause that’s personally meaningful to them, their charitable donations may be tax deductible. These deductions basically reduce the amount of their taxable income. Here’s how the CARES Act […]
Taxpayers have the right to representation when working with the IRS
The IRS grouped all of the rights taxpayers have under the law into the Taxpayer Bill of Rights. Included in the list is the right to retain representation. Here’s what the right to retain representation means to taxpayers: Taxpayers have […]
IRS resources to help small business owners
This week is National Veterans Small Business Week. The IRS has a variety of resources to help small business owners, including veterans, understand their tax responsibilities. Best of all, most of these resources are available online at IRS.gov. Here’s a […]
Here’s what taxpayers need to know about filing an amended tax return
If taxpayers discover a mistake on their tax return, this is not necessarily cause for concern. Most errors can be fixed by filing a Form 1040-X, Amended U.S. Individual Income Tax Return. Here are some common reasons people may need […]
IRS reminds businesses to e-file payroll tax returns
WASHINGTON – The next quarterly payroll tax return due date is Oct. 31, and the Internal Revenue Service urges business owners to use the speed and convenience of filing the returns electronically. IRS Forms 940, 941, 943, 944 or 945 […]
All taxpayers have the right to privacy – it’s the law
One of the IRS’s top priorities is protecting the privacy rights of America’s taxpayers. The agency takes this so seriously that the right to privacy is one of ten rights the Taxpayer Bill of Rights gives all taxpayers. Taxpayers have […]
Helpful information for taxpayers on backup withholding
Taxpayers who receive certain types of income may have backup withholding deducted from these payments. Backup withholding can apply to most payments reported on certain Forms 1099 and W-2G. Here are some facts to help taxpayers understand backup withholding. […]
IRS adds QR technology to key balance due notices to help taxpayers
WASHINGTON – For the first time, the IRS is adding barcode technology to notices sent to millions of taxpayers. Starting this month, the CP14 and CP14 IA notices that inform taxpayers that they owe money on unpaid taxes and their […]
IRS: Check tax withholdings now as the last quarter of 2020 begins
WASHINGTON — The Internal Revenue Service today reminded taxpayers that now is the perfect time to review their tax withholding and payments to avoid a surprise when filing next year. An adjustment or two made now may boost take home […]
Here’s what taxpayers need to know about their right to finality
Taxpayers interacting with the IRS have the right to finality. This is especially for taxpayers who are being audited. This is one of ten basic rights —collectively known as the Taxpayer Bill of Rights. For taxpayers who are in the […]